The sustained increase in foreign direct investment (FDI) places Dominican Republic in the top 10 investment destinations in Latin America and the CaribbeanThis was highlighted by the Vice President of the Republic, Raquel Peña during the recognition carried out by the Export and Investment Center of the Dominican Republic (ProDominicana) to 10 foreign capital companies for their contributions to the economy.
Peña, president and coordinator of the Investment Promotion Office, also said that during the last ten years the country has received US$27,000 million for foreign direct investment (FDI), aimed at various sectors, such as commerce and industry, tourism, real estate, mining, energy, free zones, finance, telecommunications and transportation.
“What we see reflected in our economic performance It is the result of all the effort made for transparency, the fight against corruption, the strengthening of the justice system, legal certainty, political and social stability.which have made us a favorable country for investment”, said the vice president.
Peña explained that “during the last year 2021, foreign direct investment was US$3,102.1 million, showing a growth of 21.2% compared to 2020which positioned us as one of the economies that attracted the most investment in the region, where we were responsible for attracting more than 80% of the flow that entered the Caribbean”.
He highlighted that this year the growth trend of these FDI flows is maintained with a capture of US$1,870.9 million in the first half of 2022, a growth of 20% compared to 2021.
The vice president indicated that the group of recognized companies has promoted socioeconomic transformations and the productive development of the country for decades.
“Today we can say that we are moving towards a substantial transformation of our economy, accompanied by more than 700 investment companies who, like us, have decided to bet on the productive sectors, the creativity and the effort of the Dominican, generating more than 200,000 jobs and important business ties,” Peña pointed out.
The vice president cited, among the measures adopted to favor investment, the launch and transformation of ProDominicana, the start-up of the General Directorate of Public-Private Partnerships (DGAPP), the launch of the first National Plan for the Promotion of Exports (PNFE ), the digitization of the Foreign Investment Registration process, the creation of the Investment Promotion Office.
He added that Soon they will be launching the Single Investment Window for the prioritized sectors of renewable energy, telecommunications, infrastructure and tourism, within the Zero Bureaucracy Program.
Likewise, the executive director of ProDominicana, Biviana Riveiro, highlighted that The Dominican Republic captured 81% of the FDI that arrived in the region and pointed out that the contribution of direct foreign investment has been decisive for the economic recovery of the country. He indicated that this recognition of these 10 companies seeks to highlight the close relationship and cooperation that we maintain with companies that invest in priority areas for our development in the country”.
The awards were given to companies that have stood out for their stability and strength in the Dominican economy and those with the greatest trajectory, age and scope in strategic economic sectors.
The following were recognized: Central Romana Corporation, Claro Dominicana, AES Dominicana, Gildan Activewear Dominican Republic, Barrick Pueblo Viejo, Meliá Hotels International, Cemex Dominicana, Nestlé Dominicana and DP World Caucedor.
During the activity, the keynote address ‘Investments in the world: A look from and for the Dominican Republic’ was also given by Amelia U. Santos-Paulino, PhD, head of the Research and Investment Affairs Section at the Conference of the United Nations on Trade and Development (UNCTAD).
The activity had the collaboration of UNCTAD, Inicia, GB Energy and Vinícola del Norte. in the act of “Recognition of Direct Foreign Investment in the Dominican Republic”, which was held in the Auditorium of the Central Bank of the Dominican Republic.